VeChain and Jiangsu PE Co. to develop IoT equipment

VeChain partnered with Jiangsu Printed Electronics Co. in order to explore and cooperate towards solutions within blockchain-centric IoT equipment

21 December 2017
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The VeChain Foundation, a non-profit entity established in Singapore, has announced on December 21 its partnership with Jiangsu Printed Electronics Co., Ltd., an integrated platform for improvement research, app development and investment in printed batteries founded in China.

Welcome our new partner - Jiangsu Printed Electronics Co., Ltd. We will mutually explore and cooperate towards solutions within blockchain-centric IoT equipment. More details, check it on our official Medium.https://t.co/gqBBx5isZ1

VeChain plans to develop the NFC/RFID chips, and Jiangsu Printed Electronics Co., Ltd., as the leading enterprise for flexible battery technology, is world-renowned for developing compact, flexible, thin and highly efficient products. The flexible batteries produced by Jiangsu Printed Electronics Co., Ltd. are expected to provide a good technical capability within VeChain’s smart chips.

For VeChain to achieve its apotheosis and become a global business ecosystem, we need to partner with reliable strategic technology partners along the way. It is with that understanding that we sought out one of the most influential innovation companies as a core partner in developing the hardware for VeChain Thor: Jiangsu Printed Electronics.

VeChain Foundation announcement

The blockchain-centric smart chips will be designed to let both Jiangsu Printed Electronics and VeChain to have an immediate impact in emerging markets and make future in the hardware capabilities for innovations in IoT.

The price of VeChain is currently on the rise showing an increase of 1% within past one hour and the 167% jump within past 7 days. The market capitalization of the coin grew from $142 to $424 million during the course of one week.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs

22 February 2018
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German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.